Duvernay Shale -Duvernay Shale Map - Alberta Oil & Gas

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Duvernay Shale - Alberta, Canada - Natural Gas & Oil Field

Duvernay Play Heats Up - China now owns a stake in the Duvernay Oil play - Encana Corporation (NYSE: ECA) has entered into a joint venture arrangement with Phoenix Duvernay Gas (Phoenix), a wholly owned subsidiary of PetroChina, to explore and develop Encana's extensive undeveloped Duvernay land holdings in west-central Alberta. Under the terms of the agreement, Phoenix will gain a non-controlling 49.9% interest in Encana's approximately 445,000 acres in the Duvernay play for total consideration of C$2.18 billion.

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What is the Duvernay Shale?  The Devonian Duvernay Shale is an oil and natural gas field located in Alberta, Canada ( in the Kaybob area ) which extends into British Columbia.  The Duvernay Shale, which can be found just north of the Montney Shale,  is quickly becoming one of the hottest oil discoveries in Canada due to some of the best drilling results we've seen in the area.  As oil prices rise and drilling technologies improve, oil & gas fields such as the Duvernay Shale are getting a second look.  We are seeing exploration heat up on dozens of shale fields across North America unlike anything we've seen before.

The Duvernay Shale ( Source Rock Devonian ) is a rich organic shale that has been deposited in the off reef portion of the Leduc reefs.  Companies such as Encana, Trilogy Energy, Chevron, and several other companies are currently exploring the Duvernay Formation.  Oil can be found in the north portion of the Duvernay oil shale while Natural Gas can be found in the south and central parts.  Land leasing auctions have been heating up as we head into 2012.

Based on early drilling results, Trilogy Energy has spud several wells and produced between 1,250-1,350 boe/d.  As more and more companies explore the Duvernay Shale, expected the drilling times to go down and the proven reserve estimates to go up.

Encana estimates they hold between 100-200 million barrels of liquids/oil on their 350,000+ acres.

Duvernay Shale
Duvernay Shale
Duvernay Shale Map

Companies Drilling in the Duvernay Shale - Duvernay Shale Stocks

Encana (ECA) - Encana ECA is drilling the Duvernay Shale and has provided an exploration update - In the Alberta Duvernay, where Encana holds about 445,000 net acres, the company has drilled and completed three horizontal wells with lateral lengths up to 6,300 feet. Encana has obtained core and reservoir data on each well and is encouraged by the results, which confirm initial expectations. Each of the wells tested has flowed significant condensate volumes with favourable condensate to gas ratios in line with other industry-announced results. Encana has two rigs drilling in the Duvernay.  

Canadian Natural Resources (CNQ) - Canadian Natural Resources (CNQ) has 385,000 acres in the Duvernay Play - As far as the Duvernay, our plans go, we'll likely drill one well, to sort of prove up some of our lands. But we are, as you know, fairly bearish on gas, we have large inventories on oil sites, so it's not like we have to drill up our gas prospects or liquids-rich gas prospects. So we're probably going to be, I would say, someone who watches what's going on and take the advantage of being a second mover.

Trilogy Energy (TET) - Trilogy Energy (TSX:TET) is very active in the Duvernay Shale - Trilogy managed the drilling, completion and tie in operations for the second horizontal well targeting the Devonian Duvernay shale formation under a previously announced joint venture with Celtic Exploration Ltd. and Yoho Resources Inc., pursuant to which each partner has a one-third working interest in 30 gross sections of land.

The well (the “3-13 well”) was drilled from a surface location at 16-14-60-20W5 to a bottom hole location at 03-13-060-20W5, with a total depth of 4,866 meters. The horizontal lateral was 1,391 metres in length within the Duvernay formation. Completion operations began March 8, 2011 and were concluded in late April. The well was fracture stimulated in 31 perforated intervals in 12 separate stages along the length of the horizontal wellbore. In total, approximately 2,300 tonnes of sand and 138,600 barrels of slick water were used to stimulate the well. The well was completed using a staged “plug and perf” horizontal completion technique, incorporating perforation clusters (2 and 3 per stage) to stimulate the well. Following the fracture stimulation, the plugs were drilled out to permit the well to flow without obstruction in the horizontal portion of the well.

The 3-13 well was tied-in April 10, 2011 and was flowing up 7 inch casing and had initial production of approximately 1,250 Boe/d. Production tubing was installed in the well and the well has been placed on production to evaluate the longer-term production performance of the play. Additional analysis is required to determine the production composition, including the natural gas liquid content, from this Duvernay shale exploration play. However, initial production to date has indicated that the natural gas liquids content is higher than originally expected and may contain up to 90 barrels per MMcf of condensate plus additional associated natural gas liquids recovered at the gas plant. Additional work is required to further understand the reservoir to optimize natural gas liquids recovery and maximize the rate of return for the wells.

Trilogy is encouraged by the results from these two horizontal Duvernay shale wells and particularly the high liquids content. Trilogy is evaluating opportunities to further evaluate its Duvernay land holdings in the Kaybob area and will continue to monitor industry activity directed towards the exploitation of the Duvernay shale. Trilogy currently owns approximately 163,129 gross acres and 132,813 net acres (255 gross sections and 207 net sections) of land with Duvernay rights at Kaybob and surrounding areas.

Talisman Energy (TLM) - Talisman Energy (TLM) Duvernay Shale Update - And we took a substantial position in the liquids-rich Duvernay shale here in Alberta, which we will learn a lot more about in the next 12 months as we continue to pilot.  Talisman plans 6 wells in the Duvernay Shale.  , it's clearly very early days in the Duvernay for us and would be for the industry. We've drilled 2 wells now, and we're literally probably a number of days away from completing our first well. It's tied in and we'll be seeing our very first -- our own very first Duvernay results in the next few weeks. As John has said, we'll be drilling an additional 6 wells this year. I'll just remind everybody that we're in a fairly large position, a split between what we call the northern and the southern parts of the Duvernay play, about 350,000 acres, and so those 6 wells are going to make a small dent on de-risking the 350,000 acres within the play. We think that's the natural pace to go, so that we can alternate wells between the north and the south as we de-risk the play this year.

2012 Update - In the liquids-rich Duvernay, we drilled the second well of a six-well pilot program.

ConocoPhillips (COP) - ConocoPhillips (COP) is active in the Duvernay Shale but isn't talking about it that much just yet.  Stay tuned for updates. 

Chevron (CVX) - Chevron (CVX) is active in the Duvernay Shale located in Canada.  Chevron (CVX) announced in October 2011 that they are drilling their first well in the Duvernay Shale right now.  More details will be provided at a later date. 

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